St. Luke’s approved for low-interest loan

St. Luke’s has secured a low-interest loan approvals through the Pennsylvania Industrial Development Authority. The program supports businesses in the purchase of new technology, equipment, real estate, and building construction costs, and the creation of new full-time jobs.

PIDA said Palmerton Site LLC, through the Carbon Chamber and Economic Development Corporation, was approved for a $2 million, 15-year PIDA loan at a 1.75 percent reset interest rate to assist in construction of its new 16,923-square-foot building in Palmerton.

The building will make quality health care more accessible for Palmerton and surrounding communities, providing access to St. Luke’s University Health Network physicians, medical procedures, physical therapy and laboratory services.

The total project cost is $4,945,122, and St. Luke’s University Health Network will create 50 full-time jobs and retain 25 jobs.

For more information about the Pennsylvania Industrial Development Authority and other DCED initiatives, visit dced.pa.gov.